OAuth is an open standard for token-based authorization that allows third-party applications to obtain limited access to a user's data without requiring them to share their passwords. It allows sites to exchange user-authorized tokens that can be revoked and have varying scopes and time limits. OAuth has gone through several versions to address vulnerabilities and inconsistencies, with OAuth 2.0 simplifying the protocol through the use of bearer tokens and authorization/resource server separation. While implementations are emerging, OAuth 2.0 continues to be refined as an IETF draft standard.